WAVES: India set to be entertainment hub of world; revenues to cross USD 100 billion in next decade, says Mukesh Ambani

Reliance Industries Chairman Mukesh Ambani with his son Anant Ambani, daughter-in-law Radhika Merchant and others listen to PM Modi (Unseen) addressing the inauguration of the World Audio Visual and Entertainment Summit (WAVES) 2025. Pic/PTI

India's media and entertainment industry revenues are set to grow by nearly four-fold to cross USD 100 billion in the next decade, billionaire Mukesh Ambani said on Thursday.

Speaking at the government-promoted WAVES here, Ambani, whose company controls a sizable part of the sector, said the day is not far when the country becomes the entertainment hub of the world.

In Photos: PM Modi in Mumbai inaugurates WAVES summit 2025, says `it is a wave of culture, creativity`

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India is one of the most populous countries in the world, and once, it becomes the third largest economy globally, its media and entertainment sector has the potential to be the largest in the world, the richest person in the country said.

Ambani, whose group controls Network18 - one of India's largest media conglomerates - as well as digital platforms, entertainment channels and content streaming platforms, said the fusion of storytelling and digital technologies has created a strategic and economic opportunity.

"India's media and entertainment industry is today valued at USD 28 billion. It can grow to over USD 100 billion in the next decade. This growth will drive entrepreneurship, generate millions of jobs, and create a ripple effect across sectors," he said while speaking at the inaugural session of the WAVES 2025 conference here.

The world-class digital infrastructure built on 5G is the country's "secret weapon", Ambani said, adding that soon it will be elevated to 6G.

Ambani said Jio's partnership with Disney to run the over-the-top platform Hotstar "marks the dawn of a new era in digital storytelling".

India has to invest in content clusters, train talented youngsters in animation and visual effects and create an enabling regulatory environment that rewards inclusion and imagination.

He also said that we have to forge partnerships and collaborations with innovative entrepreneurs, artists and studios from around the world.

India's entertainment and cultural industry is not just soft power - it is real power, he said.

"In our civilizational heritage of over 5,000 years, we have vast treasure troves of timeless tales - from the Ramayana and Mahabharata to folklore and classics in dozens of languages. They touch people's hearts around the world because they celebrate universal human values - brotherhood, compassion, courage, love, beauty, and care for nature," he said.

"No nation can match India's storytelling power. Therefore, with great confidence and creativity, let us take our stories globally to heal a divided world," he said, terming the media and entertainment sector as presenting a "strategic" opportunity and not just cultural and economic prospects.

Stating that India has become a front-ranking digital nation, he said the fusion of storytelling and digital technologies is unique to India.

"It has multiplied the impact and reach of entertainment and cultural experiences beyond imagination. The tools of AI and immersive technologies can make our stories more captivating than ever before and take them instantly to audiences across languages, countries, and cultures."

By mastering these tools, India's super-talented young creators will rule the global entertainment industry with blockbusters, Ambani noted.

"In an increasingly turbulent and uncertain world, our stories give the hope of a better future with their power to unite, inspire, and enrich," he said.

Referring to the recent terror attack in Pahalgam, Ambani said the presence of Prime Minister Narendra Modi at the conference sends a strong message of "hope, unity, and unshakable resolve".

"All of us, gathered here, offer our heartfelt condolences to the families of the victims," he said.

"Modi ji, you have the full support of 145 crore Indians in this fight against the enemies of peace, justice and humanity. Their defeat is certain. India's victory is also certain."

Speaking about the conference, he said representatives from 90 countries and 10,000 delegates are participating in the WAVES 2025.

"This is the josh of Naya Bharat - the spirit of New India. Bold in its dreams. Fast in its execution. And determined to surpass global standards."

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